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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInThe SEC Should Leave Kim Kardashian Alone – WSJ
Finally, there is the problem of selective enforcement. The internet has generated countless places in which people are promoting investments of various kinds. The growth of meme stocks set off in Reddit chat rooms is the latest example of the phenomenon. The price distortion caused by manipulators in these places is far greater than the […]
Spare a thought for Kim Kardashian | Financial Times
An unusual sequence of words popped into my mind this week: poor Kim Kardashian. At the risk of losing you before I’ve begun, I would like to ask that you spare a thought for a woman who is mainly famous for being famous (and for being rich). It has emerged that this week Kardashian settled […]
Hidden Takeaways From the SEC Kardashian Case | John Reed Stark
Whatever the future for disgorgement and promotion bans, which certainly provide interesting fodder for debate securities law experts, that is beside the point. With the Kardashian and other celebrity crypto-enforcement cases, the SEC has sent a strong signal regarding celebrities and crypto: Securities offerings are not like Rolex watches or Nike sneakers and do not lend […]
Cooley Keeps Up With Kim Kardashian in $1.26M SEC Settlement | National Law Journal
When reality TV star and entrepreneur Kim Kardashian came under scrutiny from the U.S. Securities and Exchange Commission over her endorsement of a cryptocurrency product, she turned to Cooley. Kardashian agreed to pay $1.26 million in penalties and disgorgement as the SEC accused her of violating the anti-touting provision of federal securities laws by not […]
Kim Kardashian – Bloomberg
… I do not give investing advice around here, but a reasonable rule of thumb is “when celebrities or influencers endorse investment opportunities, especially crypto asset securities, that definitely means that those investment products are wrong for all investors”? Like, who was EthereumMax right for? Also, when celebrities and influencers endorse a crypto thing you’ve never […]
Kim Kardashian could be ‘tip of the iceberg’ for celeb crypto crackdown
Kardashian’s flagrant promotion of an individual crypto token was effectively low-hanging fruit for regulators, experts said. But celebs who promoted sites like Crypto.com and FTX — where customers can trade a wide swath of cryptocurrencies — could also be targets, according to crypto expert and London School of Economics visiting fellow Garrick Hileman. “I would wonder whether […]